CHICAGO — As reported last week by Pippen Ain’t Easy and confirmed today by the Chicago Tribune, the Chicago Bulls are rewarding their superstar and the reigning NBA MVP Derrick Rose with a five year, $94 million extension that will keep Rose in Chicago through 2016.
“Wow.” Rose said Wednesday at the official announcement. “I just want to thank God for blessing me with this incredible talent. I want to thank the Bulls for taking a chance on me.”
This deal wasn’t the world’s best kept secret as not only have the Bulls been hammering out the finer details of the Rose extension for the better part of a week, but everyone and their grandma expected Chicago to lock up their superstar fairly quick. Had the NBA Lockout not occurred, the feeling around Chicago was that this deal would have been announced near the end of the summer.
Rose became the league’s youngest MVP last season at age 22, and actually benefited from a new rule in the CBA dubbed the ‘Derrick Rose Rule’ which states that players who out perform their rookie contracts are entitled to maximum benefits like 30 percent of a team’s total salary.
It’s safe to say Rose far out performed his rookie deal by being twice named an All-Star and of course being named the MVP last year.
Although the final number on his contract his $94 million, Rose pretty much earned himself an extra $10 million benefiting from his rule. Chances are Rose would have earned a contract in the high $80 million range had it not been for the rule. With luxury concerns about, the Bulls squashed rumors that Rose was getting a deal in excess of $100 million.
“I think I can finally say this now: Mom, we finally made it.” Rose said.
But Rose is pretty happy with the figure he got. After all at age 22, he’s one of the richest people in his age bracket if not the richest. His deal makes him a Bull for the better part of this decade and chances are he’s got a few more deals coming his way from the Bulls down the road.
The big question on Bulls fans minds is how many rings will Rose have to use as leverage when it comes time to renew his latest deal?
“I wish it was a ten year contract.” said Head Coach Tom Thibodeau.
With Rose slated to make roughly $18.8 million a year, chances are the Bulls are investing their money wisely in what is soon to be one of the NBA’s top prizes.
But Rose is locked up and locked into Chicago for the better part of the foreseeable future, and according to him, it’s the only place he wants to be. Rose will be 29 when this new deal expires and he said he can’t envision himself playing in any other uniform other than a Bulls one.
“Unless they trade me.” Rose said coyly.
“That won’t happen.” chuckled GM Gar Forman.